Galaxy Entertainment

Galaxy Entertainment Group was founded in 1988 by Lui Che-Woo. It was awarded a concession to operate casinos in Macau in 2002 and entered the market in 2004 with the opening of the first of four City Club Casinos -- the Casino Waldo.

The company owns the five-star StarWorld Hotel and Casino on Macau Peninsula, opened in 2006, and opened the first phase of its Galaxy Macau integrated resort on Cotai in May 2011. The company opened the expansion to the resort, Galaxy Macau Phase 2 and the Broadway Macau in 2015, marking the first new resorts to open in the territory since 2012. It has plans for Phases 3 and 4 of the property for a total investment of HK$100 billion ($12.8 billion). Site works are expected to start in 2016.

In addition, the Group has also entered into a framework agreement with the Hengqin authority to develop a 2.7 square kilometer land parcel for a world class destination resort in Hengqin Island.

Related Articles

The credit profile of Macau’s casinos operators is likely to improve in 2018, though upgrades are not likely to be on the cards due to the intrinsic volatility in the industry and expected dividend increases, according to a report from Standard & Poor’s.

Macau industry EBITDA growth is expected to slow in the third and fourth quarter of 2017, with concerns of slowing mass growth, risks of premium mass and a macro slowdown in China, according to Morgan Stanley analysts.

Asia Gaming Brief is an intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia. AGB's extensive network of regional advisors ensures that the intelligence you receive is real, topical and based on fact.

Contacts

All the information displayed, transmitted or carried by AGB and its related websites including, but not limited to, directories, guides, news articles, opinions, reviews, text, photographs, images, illustrations, profiles, audio clips, video clips, trademarks, service marks and the like, collectively the “Content”, are protected by the copyright and other intellectual property laws. The Content is owned by AGB. You may not modify, publish, transmit, transfer, sell, reproduce, create derivative work from, distribute, repost, perform, display or in any way commercially exploit any of the Content. You agree to abide by all copyright notices and restrictions attached to any Content accessed through the AGB website and not to alter the content in any way. The content is liable to change at any time without a prior notice of the change or a note of it.